The Procter & Gamble Company (NYSE:PG) Shares Sold by Citizens Business Bank

Citizens Business Bank reduced its position in The Procter & Gamble Company (NYSE:PG) by 22.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,688 shares of the company’s stock after selling 1,363 shares during the period. Citizens Business Bank’s holdings in Procter & Gamble were worth $687,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PG. Cerity Partners LLC raised its holdings in shares of Procter & Gamble by 106.2% during the 4th quarter. Cerity Partners LLC now owns 6,134,455 shares of the company’s stock valued at $898,943,000 after buying an additional 3,159,796 shares during the period. Wellington Management Group LLP raised its stake in shares of Procter & Gamble by 9.4% during the third quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock valued at $5,193,916,000 after purchasing an additional 3,047,557 shares during the period. International Assets Investment Management LLC lifted its position in shares of Procter & Gamble by 13,850.3% during the fourth quarter. International Assets Investment Management LLC now owns 2,747,379 shares of the company’s stock worth $402,601,000 after purchasing an additional 2,727,685 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Procter & Gamble by 235.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,231,032 shares of the company’s stock valued at $473,475,000 after purchasing an additional 2,268,805 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Procter & Gamble during the 3rd quarter valued at $246,412,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Buying and Selling

In related news, insider Balaji Purushothaman sold 28,369 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the completion of the sale, the insider now directly owns 11,507 shares in the company, valued at $1,858,265.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Procter & Gamble news, CEO R. Alexandra Keith sold 855 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $158.50, for a total transaction of $135,517.50. Following the completion of the sale, the chief executive officer now directly owns 4,004 shares of the company’s stock, valued at $634,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Balaji Purushothaman sold 28,369 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the completion of the transaction, the insider now directly owns 11,507 shares in the company, valued at $1,858,265.43. The disclosure for this sale can be found here. Insiders have sold a total of 55,865 shares of company stock valued at $9,009,280 over the last three months. Company insiders own 0.17% of the company’s stock.

Procter & Gamble Stock Performance

NYSE:PG traded up $1.58 during midday trading on Tuesday, reaching $163.24. 8,105,773 shares of the company traded hands, compared to its average volume of 6,942,727. The Procter & Gamble Company has a twelve month low of $141.45 and a twelve month high of $164.32. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.48. The company has a fifty day moving average price of $159.72 and a 200 day moving average price of $153.78. The firm has a market capitalization of $385.27 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 3.27 and a beta of 0.44.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.42 by $0.10. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The company had revenue of $20.20 billion for the quarter, compared to analyst estimates of $20.43 billion. During the same quarter last year, the business earned $1.37 earnings per share. Procter & Gamble’s revenue was up .6% compared to the same quarter last year. On average, analysts expect that The Procter & Gamble Company will post 6.55 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be issued a $1.0065 dividend. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date is Thursday, April 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.47%. Procter & Gamble’s dividend payout ratio is 65.85%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PG. Truist Financial upgraded Procter & Gamble from a “hold” rating to a “buy” rating and raised their target price for the company from $160.00 to $175.00 in a research note on Monday, March 11th. Barclays lifted their price objective on Procter & Gamble from $168.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. Stifel Nicolaus increased their target price on Procter & Gamble from $155.00 to $157.00 and gave the company a “hold” rating in a research note on Wednesday, January 24th. Argus lifted their price target on shares of Procter & Gamble from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Wells Fargo & Company increased their price objective on shares of Procter & Gamble from $162.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $169.76.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.